Which of the following items will result in an inclusion in gross income?
A. Jane receives a check from her stock broker for $50,000 due to the sale of stock purchased five years ago for $60,000.
B. A 10% stock dividend for all shareholders is declared by the board of directors of a publicly-traded corporation. Mel receives 10 shares of stock worth $1,000.
C. George won $50 at his church's bingo game night.
D. Due to the discovery of oil beneath Finn's land, the value of Finn's land increases $1,000,000.
Answer: C
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Answer the following statement true (T) or false (F)
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